Line of Credit terms require majority India sourced supplies and prescribe compliance, documentation and FEMA based regulation. Exim Bank's LOC for financing a low cost housing project in Burkina Faso mandates that at least 75 percent of contract price be supplied from India and up to 25 percent may be procured abroad. The Credit Agreement effective from September 13, 2013 prescribes 48 month disbursement timing for project exports and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may pay commission from their own resources or EEFC balances subject to AD Category I bank compliance. Directions issued under FEMA sections 10(4) and 11(1).
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Line of Credit terms require majority India sourced supplies and prescribe compliance, documentation and FEMA based regulation.
Exim Bank's LOC for financing a low cost housing project in Burkina Faso mandates that at least 75 percent of contract price be supplied from India and up to 25 percent may be procured abroad. The Credit Agreement effective from September 13, 2013 prescribes 48 month disbursement timing for project exports and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may pay commission from their own resources or EEFC balances subject to AD Category I bank compliance. Directions issued under FEMA sections 10(4) and 11(1).
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